Zone1 Social Security Scam

[Woodznutz]

For the first, you have to ask a bunch of dead people. For the 2nd, once money has been put in by millions of people, millions of people (including me, I've been paying in since my first part time job at 15 years old) expect to be paid out.

I'm sure it can be phased out without anyone getting hurt. When I retired early from my union I got my pension contribution back, although it hadn't earned anything.

 

[martybegan]

I'm sure it can be phased out without anyone getting hurt. When I retired early from my union I got my pension contribution back, although it hadn't earned anything.

I doubt that it would go that smoothly with social security.

 

[Ame®icano]

I'm collecting SS, and paying taxes on 85 percent, and I'm delighted with the program. Are you on SS?

Of course you are delighted, since you're benefiting from it. Your answer however has nothing to do with what I wrote.

 

[Woodznutz]

So basically it goes into sinkholes, never to come back.

Actually, the money is the only thing that remains.

 

[Woodznutz]

Of course you are delighted, since you're benefiting from it. Your answer however has nothing to do with what I wrote.

You parsed that post as if SS recipients were running the program. You also said earlier that SS "doesn't work". I beg to differ as it works great for me and millions of others.

 

[martybegan]

Actually, the money is the only thing that remains.

That money was spent a long time ago.

 

[Woodznutz]

That money was spent a long time ago.

Money circulates, it's never 'spent'.

 

[martybegan]

Money circulates, it's never 'spent'.

When its from inside the government circle and goes out, it's "spent" as in the government has to raise it somehow.

All the SS bonds do is kick the can down the road to a later general fund that has to pay off the debt. Before when there was always a surplus this didn't have to happen beyond a swap for newer bonds to older bonds. Now the old bonds have to be paid out, and there are no new ones coming in for the general fund.

Government debt service in the general fund outlays will go up, way up.

 

[sartre play]

Zero huge government programs are with out problems, Over all this is a Great one. Can you imagine old people having to depend only on family, or millions living on the street begging. Two sad to even contemplate.

 

[Woodznutz]

When its from inside the government circle and goes out, it's "spent" as in the government has to raise it somehow.

All the SS bonds do is kick the can down the road to a later general fund that has to pay off the debt. Before when there was always a surplus this didn't have to happen beyond a swap for newer bonds to older bonds. Now the old bonds have to be paid out, and there are no new ones coming in for the general fund.

Government debt service in the general fund outlays will go up, way up.

SS will make the adjustments needed to keep the program sound.

What Is the Social Security Trust Fund?

The Social Security Trust Fund pays for retirement and disability benefits. Primarily funded through payroll taxes, Social Security's solvency is at risk.

www.thebalancemoney.com

 

[flan327]

Social Security works

It is an important safety net for tens of millions of Americans

We rely on that
Plus our retirement funds
We are fine

 

[flan327]

Zero huge government programs are with out problems, Over all this is a Great one. Can you imagine old people having to depend only on family, or millions living on the street begging. Two sad to even contemplate.

I’m not sure what you are trying to say

 

[rightwinger]

We rely on that
Plus our retirement funds
We are fine

Most Americans do

 

[flan327]

Most Americans do

I disagree

Did you take a poll?

Big cities all across the nation?

WHY IS HOMELESSNESS such a problem?

 

[rightwinger]

Most American retirees rely on their social security
Been that way for generations

 

[Blues Man]

Anyone with a brain plans their retirement without relying on Social Security because it's a government controlled clusterfuck designed to keep people poor

 

[otto105]

If you look up info about Social Security, you'll find that it's established by FDR to "address the permanent problem of economic security for the elderly by creating a work-related, contributory system in which workers would provide for their own future economic security through taxes paid while employed. " A lot has changed since then, and today the Social Security is mostly used as Democrats political tool to get and/or keep elderly votes, mostly by straight up lying about what their political opponents, Republicans, are intending to do with it. Only thing is, they're omitting the truth that they're the only party that is destroying the very purpose and future existence of the Social security. So, let's talk about it.

When Franklin D. Roosevelt, a Democrat, introduced Social Security, he promised that participation in the program would be completely voluntary. As we know, it's no longer voluntary.
Second, he promised that participants would only have to pay 1% of their first $1,400 of their annual incomes into the program. Today, you're paying 6.2% into the program, or 12.4% if you're self employed on first $147K.
Third, he promised that the money the participants elected to put into a program would be deductible from their income tax purposes each year. As you all know, that tax is no longer tax deductible.
Fourth, he promised that the money the participants put into the independent "trust fund" rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement program, and no any other government program. Well, under LBJ, that money was moved to the government's "general fund" and spent.
Fifth, FDR promised that annuity payments to the retirees would never be taxed as income. Under Clinton and Gore, up to 85% of your social security can be taxed.

Since many of us have paid into Social Security for years, and are receiving Social Security check each month, only to find out that they have been taxed on 85% of the money we paid to the Federal government to "put away, you maybe interested in following questions:

Q. Which political party took Social Security from the independent "trust fund" and put it into the general fun so that Congress could spend it?
A. It was Lyndon Johnson and the House and Senate controlled by Democrats.

Q. Which political party eliminated the income tax deduction for Social Security withholding?
A. The Democratic party.

Q. Which political party started taxing Social Security annuities?
A. The Democratic party, with Al Gore casting the tie-breaking vote as President of the Senate, while he was VP of the US.

Q. Which political party decided to start giving annuity payments to immigrants?
A. It was Jimmy Carter and the Democratic party gave immigrants that moved into the US Social Security payments at age 65, even though they never paid a dime into it.

As you can see above, it's not Republicans that are destroying the Social Security as we know it. the Democrats are doing it since it's inception, while blaming everyone else for their failures.

What failures?

 

[Woodznutz]

Anyone with a brain plans their retirement without relying on Social Security because it's a government controlled clusterfuck designed to keep people poor

It's the things that aren't planned for that screw up the things that are.

 

[Woodznutz]

WHY IS HOMELESSNESS such a problem?

Because housing is so expensive.

 

[Couchpotato]

Social Security works

It is an important safety net for tens of millions of Americans

SS is a wealth thief that keeps poor people from passing down wealth accumulated over a lifetime.

200 dollars a month invested at 7% over 50 years gives the investor over a million dollars.

200 dollars a month is what someone making 20k a year pays per month to SS. (worker and employer). 7% is a very conservative investment return.

So someone living well below the poverty line is a millionaire when they retire if they never make a dime over 9.60 an hour, working 40 hours a week if they money the SSA takes from them is allowed to be invested by the individual instead of spent by Congress.

That person would have to live for another 86 years if they took all the money they invested stuck it in their mattress and doled it out to themselves at the rate SS does.

That person would make more on the interest of their investment (4X more) than they would from SS.

Even at 3% interest you are better off.